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2015 (11) TMI 357 - AT - Central ExciseReversal of cenvat credit on goods lost / written off - returned goods - Held that:- demand in respect of the loss booked under the balance sheet has to be sustained for the reason that if explicitly assessee booked loss is nothing but value which was written off. Therefore on written off value, Cenvat credit is not admissible. Therefore demand of ₹ 1,21,701/- in respect of loss credit is not admissible. CENVAT Credit - returned goods - Rule 16 - Held that:- In the whole proceedings Revenue could not adduce a single evidence by which it can be established that out of the goods covered under five invoices, goods were cleared from the factory without payment of duty. Even if it is accepted that part of the returned goods were defective and cleared as scrap, same was cleared on payment of duty. However, the loss booked in the books of account is on account of said defective parts, credit is not admissible as already held above. - Decided partly in favour of assessee.
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